Royal Bank of Canada Boosts AGCO (AGCO) Price Target to $76.00

AGCO (NYSE:AGCO) had its price objective raised by analysts at Royal Bank of Canada to $76.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has a “positive” rating on the industrial products company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 11.47% from the company’s previous close.

Several other brokerages have also commented on AGCO. Deutsche Bank set a $76.00 price target on shares of AGCO and gave the stock a “buy” rating in a report on Friday, March 8th. OTR Global raised shares of AGCO to a “positive” rating in a report on Friday, January 18th. Barclays lowered shares of AGCO from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $64.00 to $63.00 in a report on Wednesday, January 23rd. Credit Suisse Group reaffirmed a “hold” rating and set a $63.00 target price on shares of AGCO in a research note on Tuesday, January 22nd. Finally, Bank of America raised shares of AGCO from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $63.00 in a research note on Monday, December 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. AGCO currently has an average rating of “Hold” and an average price target of $65.08.

AGCO traded up $0.78 during trading on Monday, reaching $68.18. 6,945 shares of the company’s stock were exchanged, compared to its average volume of 585,611. AGCO has a 1 year low of $49.50 and a 1 year high of $69.31. The company has a current ratio of 1.28, a quick ratio of 0.59 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5.16 billion, a PE ratio of 17.55, a P/E/G ratio of 1.00 and a beta of 0.89.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, February 5th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.09. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.58 billion. AGCO had a net margin of 3.05% and a return on equity of 10.27%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. As a group, analysts predict that AGCO will post 4.67 EPS for the current fiscal year.

In other news, VP Gary L. Collar sold 5,000 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.44, for a total transaction of $322,200.00. Following the transaction, the vice president now owns 81,401 shares of the company’s stock, valued at approximately $5,245,480.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Lucinda B. Smith sold 3,300 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $65.00, for a total transaction of $214,500.00. Following the transaction, the senior vice president now directly owns 42,438 shares in the company, valued at approximately $2,758,470. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,300 shares of company stock worth $1,339,251. 16.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AGCO. Oregon Public Employees Retirement Fund boosted its position in shares of AGCO by 2,214.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,742,527 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 1,667,232 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of AGCO by 116.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 415 shares during the last quarter. JOYN Advisors Inc. boosted its position in shares of AGCO by 109.5% during the 4th quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 448 shares during the last quarter. Private Capital Group LLC boosted its position in shares of AGCO by 20.1% during the 4th quarter. Private Capital Group LLC now owns 1,092 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 183 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of AGCO by 183.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 729 shares during the last quarter. 84.26% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, and residential uses.

Featured Story: Quiet Period

The Fly

Analyst Recommendations for AGCO (NYSE:AGCO)

Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.